Starbucks’s UK retail business paid no corporation tax last year
US-owned coffee chain dived to £35m loss after paying £40m in royalty and license fees to parent companyStarbucks’s UK retail business paid no corporation tax for last year as it dived to a £35m loss after paying £40m in royalty and licence fees to its parent company.The US-owned coffee chain said it made the payments despite sales declining 4% to £525.6m in the year to 29 September 2024, amid what it called a “challenging economic climate” and a consumer boycott linked to the Gaza conflict. Continue reading...
US-owned coffee chain dived to £35m loss after paying £40m in royalty and license fees to parent company
Starbucks’s UK retail business paid no corporation tax for last year as it dived to a £35m loss after paying £40m in royalty and licence fees to its parent company.
The US-owned coffee chain said it made the payments despite sales declining 4% to £525.6m in the year to 29 September 2024, amid what it called a “challenging economic climate” and a consumer boycott linked to the Gaza conflict. Continue reading...
